liwwa, a FinTech startup, raised $18.5 million in a pre-Series B round of equity and debt. It will be utilizing the funds raised for its growth and expansion plans.
The round included $4.5 million in equity investment led by existing investors, DASH Ventures, Dutch Entrepreneurial Development Bank FMO, Edgo, and Bank al Etihad, in addition to German Development Finance Institution DEG approving an investment of $790k.
The round also included debt contributions from a network of local banks and international development finance institutions: Bank al Etihad, Capital Bank of Jordan under the NASIRA agreement, Jordan Kuwait Bank and Triodos Bank, PROPARCO, and Triple Jump.
Founded in 2015, liwwa employs technology across its operations to provide tailored financial solutions. It also owns and operates the liwwa Investment Platform, a peer-to-peer platform that enables retail investors to finance liwwa loans and earn returns.
“With this funding round, we have yet taken another major step towards accomplishing our goals. We will continue to grow as the market grows by bringing in innovative Fintech solutions and cash flow-based lending,” Dennis Ardis, liwwa’s CEO, said.
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